Shufti Pro , an ID verification service provider, has announced its partnership with omnispay to provide the latter with an IDV authentication solution. This partnership is set to allow omnispay to de-risk merchant onboarding and strengthen the fight against financial crime in the fintech industry.

omnispay supports SME growth by improving cash flow of SMEs in the UAE. Through omnispay, SMEs are able to pay their suppliers securely even when they don’t accept cards and collect from customers remotely. The company's main focus is on security and ease of use, enabling merchants to handle their financial operations efficiently.

According to AARP, every year, about 42 million identity scams occur worldwide in the fintech sector. These scams are known to cause financial losses as well as a significant decrease in trust in online transactions and services. Hence, the press release highlights that with this figure of ID scams in the industry, there is a need for solid identity verification solutions to safeguard individuals and businesses.

By collaborating with Shufti Pro, omnispay intends to ensure businesses make legitimate partnerships and stay compliant with global regulations, fostering trust, and confidence among their partners and customers. About omnispay omnispay is a payments platform that helps micro and small businesses grow by simplifying their payment needs. The company improves cash flow for small businesses by letting them pay and collect from a business dashboard.

SMEs can pay their suppliers by using existing credit cards and collect remotely and timely from customers by using payment links. Furthermore, the dashboard gives a comprehensive view of all payments. About Shufti Pro Shufti Pro is an IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions worldwide.

It has international offices and has launched 17 IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150 languages, Shufti Pro serves customers in more than 240 countries and territories. While conventional verification methods are time and resource-consuming and can be prone to human error, Shufti Pro’s AI-powered IDV aims to strengthen the KYB process.

The solution also screens the clients against multiple AML and sanctions list registries and highlights potential high-risk clients. .